Pendle protocol sees a 13% leap to $3.59 within the worth of its native token $PENDLE after it introduced to incorporate Bitcoin yield methods with new $BTC swimming pools.
Not only a worth surge, however the group members are pumped concerning the token with 87% exhibiting sturdy bullish sentiments, as per Coinmarketcap knowledge.
BitMex Co-founder Arthur Hayes additionally confirmed his optimism concerning the launch as he bets on $PENDLE rising to $10, in a X submit, “$PENDLE + $BTC DeFi = $10. Guess.”
Pendle together with a trio of Corn, Lambard(LBTC), and Babylon will collectively unlock new yield alternatives for BTC. The brand new improvement will assist Bitcoin holders to diversify within the DeFi area and likewise earn rewards with out compromising on the liquidity of their property.
Episode 1 of the Pendle #Bitcoin arc
A foursome manufacturing alongside @use_corn x @Lombard_Finance x @babylonlabs_io:
Corn LBTC (26 Dec) 🌽 pic.twitter.com/9hi7huQzRM
— Pendle (@pendle_fi) September 11, 2024
TN Lee, CEO of Pendle acknowledged, “We’re excited to be working with varied BTC yield protocols to unlock new alternatives for his or her customers with Pendle. We’ve seen main use circumstances with fastened yield for ETH, and we’re aiming to copy the identical success with BTC as nicely.”
Powered by Lombard, Corn’s LBTC will enable liquid BTC staking on Babylon which is a BTC-focused restaking infrastructure layer. Thus, when customers deposit LBTC on Corn, they will take part in Corn’s pre-launch marketing campaign, earn Kernels that may later be used for the $CORN airdrop.
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